Mawarid Finance, a new private joint stock Islamic finance company with a paid-up capital of one billion dirhams, was officially launched in Dubai yesterday (September 5 2007) at a ceremony at the Emirates Towers hotel in Dubai attended by a large number of business and social figures.
In his inaugural speech, chairman Omran Sultan Abdullah Al Owais said that the company’s goal is to create superior and innovative Sharia’a compliant products and services that cater to individuals and companies.
He told guests: “Mawarid draws its strength from a solid vision for the future articulated by a team of leading industry professionals who have been carefully selected on the basis of their diverse expertise in different aspects of Islamic finance and customer services.”
The company’s plans include an expansion of the range of product services and branch network in the UAE as well as exploring opportunities regionally whenever it sees growth opportunities in external markets and after building strong foundations in the UAE.
